Zomato-backed fitness startup CureFit has reorganized to increase efficiency and position itself for profitability in FY25, resulting in the layoff of 120 staff members. The brands owned by the company are Carefit, Sugar.fit, and Cultfit. InMobi intends to carry out a second round of layoffs.
120 workers were let off by Zomato-backed fitness firm CureFit as part of an organizational restructuring. The media source claims that the most recent layoffs have affected workers at the company’s brands, which include Cultfit, Sugar.fit, and Carefit.
According to a remark from the company in Inc42 reports, “We have reduced some redundant positions with the aim of streamlining operations as part of our regular annual operating planning process.”
“This is intended to improve productivity and set us up for full profitability in FY25,” it said. The statement went on, “We have done this with great care in the hopes of creating long-term value for our stakeholders.
Earlier in 2020, the fitness startup laid off about 800 employees.
CureFit was founded by Ankit Nagori and Mukesh Bansal in 2016. They formerly managed the mental health platform Mindfit, the physical fitness platform Cultfit, and the primary care vertical Care.fit.
However, Nagori quickly left the business to focus on his next venture, Curefoods, a D2C cloud kitchen aggregator.
In the meantime, InMobi, the big mobile advertising startup supported by Softbank, intends to lay off 125 of its 2,500 global workforce members as part of a second round of job cuts. According to a media source, the shift will impact roughly 5% of the workforce as a whole.
Conclusion
120 workers were laid off by CureFit, a Zomato-backed fitness firm, as part of an organizational restructuring. The company wants to increase output and position itself for complete profitability by FY25. The 2016-founded company has already let go of about 800 employees in 2020. Softbank-sponsored mobile advertising startup InMobi intends to lay off roughly 5% of its global workforce in a second round of job cuts.
